Riyadh – Mubasher: Arabian Pipes Company has invited its shareholders for an extraordinary general meeting (EGM) scheduled for 24 August 2026.
The shareholders will vote on a board recommendation to increase the company's capital by SAR 52 million, according to a bourse filing.
The 26% proposed increase will raise the capital from SAR 200 million to SAR 252 million.
Arabian Pipes noted that the expansion will be funded by capitalizing SAR 52 million from the retained earnings account.
Under the proposal, 50 million bonus shares will be distributed to shareholders at a ratio of one share for every four shares held, marking a 25% increase for existing investors.
The remaining 2 million shares, representing 1% of the pre-increase capital, will be allocated to a long-term employee incentive program as treasury shares.
Arabian Pipes stated the capital hike aims to strengthen its capital base and support future growth plans.
If approved, eligibility will apply to shareholders registered at the end of the second trading day following the meeting.
The assembly, which will be held virtually, will also vote on amending Articles 7 and 8 of the company’s bylaws to reflect the new capital structure of 252 million shares.
Arabian Pipes lately rescheduled its EGM from the original date of 27 July 2026 due to lack of legal quorum.
